Developing Event Sample Clauses

A Developing Event clause defines circumstances under which a particular event or situation is recognized as having occurred or is in the process of occurring, often triggering specific rights or obligations for the parties involved. In practice, this clause might apply to situations such as the emergence of a regulatory change, a material adverse effect, or the onset of a force majeure event, and it typically outlines the criteria or process for determining when the event is considered to have developed. Its core function is to provide clarity and certainty about when certain contractual provisions become operative, thereby helping parties manage risk and respond appropriately to evolving situations.